Photo by Diane Lederman / The RepublicanProspective bidders mill about the Mt. Tom Village condominium project that was sold at auction Wednesday for $650,000. Nine units are finished but only seven are occupied. Five others are framed. Foundations are set for four other units.

EASTHAMPTON – A group of three Western Massachusetts developers were the high bidders Wednesday in the auction of an unfinished East Street condominium project for people 55 and older.

The three, who asked not be named, bid $650,000 for the project. It was also offered as individual parcels, but those bids together were less than $650,000.

Former owner Wesley Kulig, of Holyoke, planned a total of 22 units in this first phase of the project which began in 2003 as Mt. Tom Village. He took out a $1.1 million loan from United Bank but ran into financial difficulties. He attended the auction. “I’ve never been to an auction before, I may as well go to mine,” he said.

The three developers plan to complete the project as soon as possible, said Leland B. Seabury, an East Longmeadow lawyer representing them.

While seven of the 22 units are occupied, and two others are completed, the remainder are in various states of development. Five are framed, foundations are poured for four units, and there are permits to develop eight additional units on the project’s approximately five acres.

Seabury said the high bidders are experienced builders with several projects in Hampshire and Hampden counties. The developers were required to put down a $50,000 deposit and have to close on the purchase within 20 business days, Seabury said. “They’re very excited, they can’t wait to get going,” he said.

Residents of the development are happy that the project was sold as a whole because they are hopeful the work will get finished soon.

Since Kulig left the project last month, there is no one to mow the lawns or to tend to the property. There aren’t enough occupied units to form and association.

Charlotte Burke was the first resident there, moving in five years ago. She said she “was very glad” to see it purchased so “the place will look like it used to.”

Reggie Marsolais, a neighbor, said he too was “very happy it sold as one.” This way the work will get finished, he said.

More than a dozen people registered to bid on the project, and more than three dozen attended the auction conducted by the Springfield-based Aaron Posnik.

City Councilor Daniel C. Hagan Sr. came out of curiosity. He too was pleased that it was sold. “The back taxes will get paid,” he said.

According to numbers provided to Posnik, Kulig as of Aug. 10 owned $37,683 in back taxes, which have to be paid by the new owners.

“I hope they bring it back to a vibrant place,” Hagan said. The sale “is good for the neighborhood.”